Improving Land Policy for Private Sector Development in Nigeria: Lessons and...

The International Finance Corporations Foreign Investment consultative Service has been implementing an ongoing project in Nigeria dealing with commercial enterprise access to commonwealth. The project is working with sub-national governments, in particular the states of Lagos, Kano, and Kaduna, to quantify their inflict marketplaces and grease constitution procedures and devise approaches to land administration that could increase the supply of business land as wholesome as reduce the direct and indirect costs of land transactions. The project entailed detailed study of land markets and mapping of land administration procedures. This paper discusses some of the findings of that ongoing project. I.OVERVIEW OF THE NIGERIAN charge MARKET(S) 1.Overview of the democracy Market(s) Unlike many other markets that emerged in development and transitional countries in recent years, Nigeria has a long business relationship of private land markets. The basic laws of property rights and transactions were until 1978 placeable in any common law country, and private land ownership was widespread.

In 1978 the military government adopted the Land Use Decree of 1978 (herein the Land Law) which changed tout ensemble this by nationalizing land ownership in the hands of the governors of the Nigerian states, who presently hold land in trust for the benefit of all the Nigerian people. The Land Law resulted in 3 major changes. First, it ended private ownership per se and established statutory rights of use which may be alienated in market transactions (including sale and mortgage of rights) only with the consent of the governor, necessitating polish land bureaucracies and administrative procedures. Second, though the Land Law essentially nationalized all land, persons in occupancy at that time, and whose land has not since been subjected to a specific government acquisition action, remain in possession. They are entitled to convert their rights to a statutory present of occupancy, and their rights to do so are frequently traded... If you want to drum a full essay, order it on our website: Orderessay

Order your essay at Orderessay and get a 100% original and high-quality custom paper within the required time frame.